Bloomberg News

Schaeuble Says Need to Boost Capital at Big European Banks

October 17, 2011

Oct. 17 (Bloomberg) -- German Finance Minister Wolfgang Schaeuble said he expects the European Union’s regulators to take decisions that will ensure that the bloc’s biggest banks have enough capital to deal with the sovereign debt crisis.

“We need for systemic banks all over Europe, in the Europe of 27, enough capital,” Schaeuble said in English in remarks at Chatham House in London. “That’s what we are doing and I think we will get a decision from the European authorities.”

Schaeuble also said the euro region will use the enhaced European Financial Stability Facility “in a flexible way and in the most efficient way. I think we will get it.”

To contact the editor responsible for this story: Rainer Buergin at rbuergin1@bloomberg.net


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